Denis Garagic - 17 Apr 2024 Form 4 Insider Report for Palladyne AI Corp. (PDYN)

Role
CHIEF TECHNOLOGY OFFICER
Signature
/s/ Stephen Sonne, attorney-in-fact on behalf of Denis Garagic
Issuer symbol
PDYN
Transactions as of
17 Apr 2024
Net transactions value
$0
Form type
4
Filing time
19 Apr 2024, 18:17:30 UTC
Previous filing
02 Apr 2024
Next filing
21 May 2024
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PDYN Stock Option (right to buy) Disposed to Issuer -21,372 -100% 0 17 Apr 2024 Common Stock 21,372 $7.44 Direct F1, F2, F3
transaction PDYN Stock Option (right to buy) Disposed to Issuer -14,204 -100% 0 17 Apr 2024 Common Stock 14,204 $24.54 Direct F3, F4, F5
transaction PDYN Stock Option (right to buy) Disposed to Issuer -68,486 -100% 0 17 Apr 2024 Common Stock 68,486 $2.82 Direct F3, F6
transaction PDYN Stock Option (right to buy) Award +21,372 21,372 17 Apr 2024 Common Stock 21,372 $1.59 Direct F3, F7
transaction PDYN Stock Option (right to buy) Award +14,204 14,204 17 Apr 2024 Common Stock 14,204 $1.59 Direct F3, F7
transaction PDYN Stock Option (right to buy) Award +68,486 68,486 17 Apr 2024 Common Stock 68,486 $1.59 Direct F3, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This option award was granted on May 29, 2020 and was previously reported as covering 128,230 shares at an exercise price of $1.24 per share, but was adjusted to reflect a 1-for-6 reverse stock split that occurred on July 5, 2023.
F2 One-third (1/3) of the shares subject to the Option vested on May 29, 2021 and one-thirty-sixth (1/36) of the shares have vested or will vest each month thereafter.
F3 Outstanding options were amended to reduce the exercise price and revise the vesting terms. This amendment was approved by the compensation committee of the Issuer's board of directors and is intended to be exempt pursuant to Rule 16b-3 of the Exchange Act.
F4 This option award was granted on May 20, 2022 and was previously reported as covering 85,220 shares at an exercise price of $4.09 per share, but was adjusted to reflect a 1-for-6 reverse stock split that occurred on July 5, 2023.
F5 25% of the shares subject to the Option vested on May 20, 2023, and then 1/12 of the shares subject to the Option vest on each Quarterly Vesting Date thereafter, subject to the Reporting Person's continued service to the Issuer through such date.
F6 This option award was granted on May 29, 2023 and was previously reported as covering 410,914 shares at an exercise price of $0.47 per share, but was adjusted to reflect a 1-for-6 reverse stock split that occurred on July 5, 2023.
F7 The option is fully unvested as of the amendment. 25% of the shares subject to the option will vest on March 29, 2025, and then 1/12 of the shares subject to the option vest on each quarterly vesting date thereafter, subject to the Reporting Person's continued service to the Issuer through such date.